Question

For each statement draw a diagram illustrating the likely effect on the market for Greyhound bus tickets. Show the impact on the equilibrium price and quantity. If the event causes a shift in either supply or demand schedule indicate which variable caused the shift in supply or demand.
1- A Greyhound bus crashes and kills 50 passengers.
2- Greyhound bus company starts charging a fee for each piece of luggage.
3- The cost of gas rises.
4- The bus drivers receive an increase in their wage.



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  • CreatedJuly 29, 2013
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